it means OH MY GOD FUCK!!!! originating on Bimmerforums (www.bimmerforums.com) by a member by the name of e30bokes. If you try to claim this word for yourself, I hope that you are visited in the night by the Byzanz Baby and raped continuously until you are banned from life, especially if you provide no pics of the Byzanz Baby.

Back in 03' or 04' I was about 14 and was wasting my life playing a MMORPG called Runescape. I was on my level 60...
I had like 84 strength at the time, and was fighting a tank ranger. he had full rune (g).
I saw he was at about quarter health, so I pulled the rune 2h. I slammed a 24 almost instantly, killing him, and as he fell over his last words where: OMGF
It was amazing, me and my friend started laughing our asses off.

Despite his extremely high defense, I managed to finish him off with the rune 2h.
His final words where: OMGF
It's only 1.2 million gp... not too bad.